Crystal Liu is of counsel in the Corporate practice of Paul Hastings and is based in the Hong Kong office. Her practice focuses on capital markets transactions and mergers and acquisitions. She also regularly advises several listed companies on corporate governance and regulatory matters, including compliance with the Hong Kong Listing Rules, Takeovers Code, and the Securities and Futures Ordinance. She is fluent in English and Mandarin.
- Liu received her Bachelor of Law degree from Peking University in 2010 and Juris Doctor degree from The University of Hong Kong in 2012. Ms. Liu received her Postgraduate Certificate in Laws at the University of Hong Kong.
Capital Markets/ M&A Matters
- Red Star Macalline Group Corporation Ltd., the largest home improvement and furnishings shopping mall operator in China in its consideration of approximately HK$6 billion voluntary conditional general offer, a buy-back of 388,917,038 H-shares at HK$11.78 per H-share, amounting to 9.87% of its total share capital.
- Hope Education Group Co., Ltd., a leading Chinese private education group, in its HK$06 billion global offering and IPO on the Main Board of the Hong Kong Stock Exchange.
- COSCO SHIPPING Holdings, in a voluntary general cash offer for all of the issued shares of Orient Overseas (International), made by the wholly-owned subsidiaries of COSCO SHIPPING Holdings and Shanghai International Port (Group) for a total value of up to US$6.3 billion pursuant to the Hong Kong Takeovers Code. This complex transaction constitutes a very substantial acquisition of COSCO SHIPPING Holdings under the Hong Kong Listing Rules and involved global legal issues relating to M&A, anti-trust and competition, and CFIUS. The combination will create one of the largest global container liners in the world.
- CIMC-Tianda Holdings Company Limited (formerly known as China Fire Safety Enterprise Group Limited) in its acquisition of Pteris Global for approximately US$700 million. CIMC-Tianda will issue new shares and convertible bonds as consideration. This transaction involved a very substantial acquisition and connected transaction under the Hong Kong Listing Rules, as well as a whitewash waiver application under the Hong Kong Takeovers Code.
- CIMC-Tianda Holdings Company Limited (formerly known as China Fire Safety Enterprise Group Limited) in its HK$250 million placing of new shares to China Merchants Group Limited.
- Bank of Tianjin Co., Ltd., the only city commercial bank headquartered in Tianjin, in its US$948 million global offering and IPO on the Main Board of the Hong Kong Stock Exchange.
- Greentown Service Group, a leading high-end residential property management service provider in China, in its US$180 million global offering and IPO on the Main Board of the Hong Kong Stock Exchange. Merrill Lynch, BOCI Asia, Haitong International Securities and Credit Suisse were the underwriters.
- Ronshine China Holdings Limited, a leading real estate developer in China’s Fujian province, in its US$230 million global offering and IPO on the Main Board of the Hong Kong Stock Exchange.
- SIIC Environment Holdings Ltd., a Singapore listed company engaging in water treatment, solid waste treatment and other environment-related businesses, in its dual primary listing of ordinary shares on the Main Board of the Hong Kong Stock Exchange.
- China ZhongDi Dairy Holdings Company Limited in its US$60 million global offering and IPO on the Main Board of the Hong Kong Stock Exchange.
- COSCO Shipping (Hong Kong) Group Limited in its acquisition of 67% of Piraeus Port Authority SA. This marks one of the most high profile Greek privatizations of recent years. This transaction was awarded “Deal of the Year 2016” by China Business Law Journal.
- China COSCO Holdings Company Limited and COSCO SHIPPING Holdings in the landmark restructuring. The restructuring represents a substantial reconfiguration of two of China’s leading state-owned enterprises and their associated companies which, on a combined basis, will become the world’s fourth largest container-shipping company. This transaction was awarded “Deal of the Year 2016” by the China Business Law Journal.
- Chanjet Information Technology Company Limited, a leading provider of enterprise software and services designed for micro and small scale enterprises in China, in its US$116.2 million global offering and IPO of H-shares on the Main Board of the Hong Kong Stock Exchange. As the issuer is the subsidiary of Yonyou Software Co., Ltd. (a top ERP service provider in China which is listed on the Shanghai Stock Exchange (stock code: 600588)), this transaction was also one of the few spin off listings of A-share listed companies on the Hong Kong Stock Exchange in 2014.
- China Vanke, a leading residential property developer in China, in its US$2.1 billion conversion of its B-shares into H-shares and listing of its H-shares on the Main Board of the Hong Kong Stock Exchange by way of introduction. CITIC Securities was the sole sponsor. This transaction was awarded “Deal of the Year 2014” by China Business Law Journal.
- Guosen Securities in its US$548 million conversion of the B-shares into H-shares of Livzon Pharmaceutical Group, a comprehensive pharmaceutical enterprise integrating research & development, production and sales of pharmaceutical products, and listing of the H-shares on the Main Board of the Hong Kong Stock Exchange by way of introduction.
- Unitech Enterprises Group Limited in its HK$258 million acquisition of approximately 61.56% of the entire issued share capital of Ford Glory Group, a Hong Kong listed company principally engaged in the business of sourcing garment products, and its subsequent unconditional mandatory cash offer.
- Nat-Ace Pharmaceutical Ltd. in its approximately US$35 million acquisition of 52.79% of the entire issued share capital of Perception Digital Holdings Limited, a company listed on the Main Board of the Hong Kong Stock Exchange and principally engaged in digital signal processing, and its subsequent unconditional mandatory cash offer.
Advised listed companies, including BBMG Corporation, ZTE Corporation, Sino-Ocean Group Holding Limited, DaFa Properties Group Limited, Bank of Tianjin Co., Ltd., COSCO SHIPPING Holdings Co., Ltd., China Huarong Energy Company Limited and Redsun Properties Group Limited in relation to their compliance matters under the Hong Kong Listing Rules and other relevant law and regulations.
- Admitted to practice in Hong Kong